QuadMetrics Inc. says it can predict with greater than 90% accuracy the likelihood that a company will be breached within the next year.
While one customer says the young company’s technology is still maturing, its prediction efforts represent an emerging capability in the fight against cybercrime. QuadMetrics says that chief information security officers are using its product as their primary risk management tool, but admit that it is one tool of many that customers have in their arsenal to fight cybercrime.
Most cybersecurity tools focus on detecting a breach that has already happened, but few, if any, can predict the probability that a specific company will suffer a breach over the following three to 12 months, according to Stewart V. Nelson, senior risk advisor at Kapnick Insurance Group, where he specializes in cybersecurity insurance. The general inability to forecast cyber risk has made it difficult for companies to benchmark their relative risk to their peers, he said. It’s also made it difficult for insurance companies to develop actuarial data to calculate premiums for cyber breach insurance and to determine the relative risk profile of the companies they insure. His company, an early customer, has been using the QuadMetrics service since May. For the full article click here
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